EOG Resources, Inc. $EOG Position Increased by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. increased its position in EOG Resources, Inc. by 7.9%, owning a total of 33,020 shares valued at approximately $4.23 million following their recent purchase.
• Institutional investors and hedge funds collectively own 89.91% of EOG Resources' stock, indicating strong institutional interest in the company.
• EOG Resources reported $2.32 earnings per share, exceeding analyst expectations of $2.14, while experiencing a 9.1% decline in revenue compared to the previous year.

Geneos Wealth Management Inc. raised its holdings in shares of EOG Resources, Inc. (NYSE:EOG - Free Report) by 7.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,020 shares of the energy exploration company's stock after buying an additional 2,428 shares during the period. Geneos Wealth Management Inc.'s holdings in EOG Resources were worth $4,234,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EOG. Bank Pictet & Cie Europe AG boosted its stake in EOG Resources by 56.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 248,399 shares of the energy exploration company's stock worth $30,449,000 after purchasing an additional 89,521 shares during the period. Ethic Inc. acquired a new position in EOG Resources in the 4th quarter worth approximately $537,000. Lazard Asset Management LLC boosted its stake in EOG Resources by 9.5% in the 4th quarter. Lazard Asset Management LLC now owns 126,974 shares of the energy exploration company's stock worth $15,563,000 after purchasing an additional 11,003 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in EOG Resources by 6.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 110,760 shares of the energy exploration company's stock worth $13,576,000 after purchasing an additional 6,813 shares during the period. Finally, NorthRock Partners LLC boosted its stake in EOG Resources by 91.5% in the 4th quarter. NorthRock Partners LLC now owns 6,637 shares of the energy exploration company's stock worth $814,000 after purchasing an additional 3,172 shares during the period. Institutional investors and hedge funds own 89.91% of the company's stock.

Wall Street Analyst Weigh In

EOG has been the subject of a number of recent analyst reports. Melius Research initiated coverage on shares of EOG Resources in a research note on Wednesday, August 20th. They issued a "buy" rating and a $173.00 price objective for the company. Wells Fargo & Company reaffirmed an "overweight" rating on shares of EOG Resources in a research note on Sunday, June 22nd. UBS Group raised their price objective on shares of EOG Resources from $142.00 to $144.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Susquehanna increased their target price on shares of EOG Resources from $156.00 to $170.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Finally, KeyCorp cut their target price on shares of EOG Resources from $140.00 to $138.00 and set an "overweight" rating for the company in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, EOG Resources presently has an average rating of "Moderate Buy" and an average price target of $143.52.

EOG Resources Stock Up 2.4%

EOG stock opened at $120.17 on Thursday. EOG Resources, Inc. has a 12-month low of $102.52 and a 12-month high of $138.18. The company has a quick ratio of 1.61, a current ratio of 1.79 and a debt-to-equity ratio of 0.12. The company has a market cap of $65.61 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 8.98 and a beta of 0.85. The company has a 50 day moving average of $120.01 and a two-hundred day moving average of $118.37.

EOG Resources (NYSE:EOG - Get Free Report) last released its earnings results on Thursday, August 7th. The energy exploration company reported $2.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.18. The company had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.45 billion. EOG Resources had a net margin of 25.25% and a return on equity of 20.51%. The company's revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.16 EPS. On average, equities analysts anticipate that EOG Resources, Inc. will post 11.47 earnings per share for the current fiscal year.

Insider Buying and Selling at EOG Resources

In other news, COO Jeffrey R. Leitzell sold 3,951 shares of the firm's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $119.65, for a total transaction of $472,737.15. Following the transaction, the chief operating officer owned 45,739 shares in the company, valued at approximately $5,472,671.35. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.13% of the company's stock.

EOG Resources Company Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.

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